Synopsis Port Everglades is the economic powerhouse for Broward County, the most diverse seaports in United States (Everglades, 2014). Located in the heart of Greater Fort Lauderdale and the City of Hollowed, Port Everglades is one of the busiest cruise ports in the world. The port is leading container port in Florida and among the most active cargo ports in the United States (Everglades, 2014). It is also the main seaport for receiving petroleum products including, gasoline and jet fuel. The total value of economic activity of Port Everglades is approximately $26 billion and more than 201,000 jobs are impacted by the Port across Florida (Everglades, 2014). Hurdles were cleared to expand Port Everglades to build a new wharf that can handle …show more content…
It places a large amount of relatively undigested information at the disposal of the policy maker (Tietenberg & Lewis, 2009, p. 69). Finding a balance in the relationship between economic and environment requires us to analyze many choices. We must make rational choices with some basis. All above techniques provides important information so we can take wise and informed decision (Tietenberg & Lewis, 2009).
Valuing the Environment Though it is important to value environment, it is impossible to place a completely accurate value on certain environment amenities like Mangroves (Tietenberg & Lewis, 2009). If we value them at $ 0 it will not lead use to best policy and at the same time valuing too high will also lead to opportunity loss. Valuation: We must estimate environmental damage cost of removing Mangroves. It will help us decide a magnitude of liability awards, which is necessary. As damage caused by removal of Mangroves can take different forms. Below are list of things we must do to access the magnitude of damage (Tietenberg & Lewis, 2009).
• Identify the affected